This is a sample of Brian’s email newsletter, The Cullen Outlook. This is the Pre-Dawn Targeting portion from earlier this morning for Thursday, February 5th.
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Good Morning-
Fast and furious this morning. Short, sweet and to the point. There are more SOFT markets below than usual, but that is only a coincidence. These are the best charts and formations that I am looking at right now and they happen to be in the SOFTS.
Bounce in COCOA?
(looking at May) I like the idea of trying to buy this bounce at 27.20-ish
Risk could be just under yesterday’s lows at 26.60
Objective could be as high as 30.00
See attached COCOA chart:
Failed break-out in the EURO?
I like the idea of getting short this market at 113.50 on a STOP order (or 114.50?) after the rally on Monday got smacked down yesterday.
(using the mini contract)
Risk would be 100 points from entry ($625.00)
Objective could be left open and you could just keep moving the stop if you get involved
See attached EURO chart:
Old Support – New Resistance in COTTON:
(looking at May) 62.00 was turned away yesterday. This market has been on an incredible run since Jan 23rd.
I like the idea of getting short this market at 61.20 on a STOP if we see some downside momentum
Risk could be about 140 points or just over yesterday’s high to know if you catch a break lower
The Objective looks like sub-57.00 is a definite possibility in my opinion if you look at the supportive trendline.
See attached COTTON chart:
Double bottom in SUGAR:
(looking at May) I like the idea of buying this double bottom near 14.50
Risk doesn’t have to be more than just under 14.00, which would be pretty strong support.
(Consider making your stop loss a 2 lot?)
The Objective could be near the recent reaction highs around 15.80
See attached SUGAR chart:
Sidenotes:
—The BOND sell on Friday afternoon and immediate stop out at 151’20 before the weekend was unfortunate. We are trading sub-149’00 yesterday! I like the idea of getting short again on the next rally.
—I cancelled the SOYMEAL sell at 338.0 on Tuesday. I am continuing to monitor to see if we can get in sooner than later.
Get involved on your own or call the desk/email your DT broker with any questions.
LET’S DO THIS!
BC
Learn Futures Technical Analysis from a Pro with The Cullen Outlook
The Cullen Outlook is a futures trading newsletter for those wishing to follow the moves of Brian Cullen, an experienced technical trader. He’ll identify charts setups, provide direct trade recommendations and plans, and share other useful insights to help you become a better technical trader.
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